2020-09 General Fund Budget AmendmentORDINANCE NO. 2020-09
AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH
PALM BEACH, FLORIDA, AMENDING THE ADOPTED GENERAL FUND
BUDGET FOR FISCAL YEAR 2020 TO CLASSIFY THE TOTAL AMOUNT
FINANCED FOR THE REAR LOADER SANITATION TRUCK AS CAPITAL
OUTLAY; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY;
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, during Fiscal Year 2020, the Village Council approved a lease with Pinnacle Public
Finance, Inc. for the lease of a 2020 Mack Rear Loader Sanitation truck; and
WHEREAS, while the Village has budgeted the annual debt service for this lease in the General Fund,
the Village Auditor has advised the Village that the total amount financed for capital leases should be
shown in the Fiscal Year 2020 budget as "other financing uses/sources" and capital outlay for
financial reporting purposes; and
WHEREAS, notwithstanding the lack of any net income effect, because this amendment increases
the total amount of the budget, this transfer must be accomplished by ordinance as required by Section
166.241, Florida Statutes; and
WHEREAS, the Village Council determines that the adoption of this budget amendment is in the best
interests of the residents and citizens of the Village of North Palm Beach.
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM
BEACH, FLORIDA as follows:
Section 1. The foregoing recitals are hereby ratified as true and correct and incorporated herein.
Section 2. The Village Council hereby amends the adopted Village of North Palm Beach General
Fund budget for Fiscal Year 2020 as follows:
Budget Amendment:
Fund
Account
Description
Use
Source
General Fund
A4200-09901
Capital Lease
$2469111
General Fund
A5540-66000
Capital Lease
$2469111
Total
$2469111
$2469111
Section 3. The Mayor and Village Clerk are hereby authorized and directed to execute the budget
amendment for and on behalf of the Village of North Palm Beach.
Section 4. If any section, paragraph, sentence, clause, phrase or word of this Ordinance is for any
reason held by a court of competent jurisdiction to be unconstitutional, inoperative or void, such
holding shall not affect the remainder of this Ordinance.
Section 5. All ordinances and resolutions, or parts of ordinances and resolutions, in conflict
herewith are hereby repealed to the extent of such conflict.
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Section 6. This Ordinance shall be effective immediately upon adoption.
PLACED ON FIRST READING THIS I OTH DAY OF SEPTEMBER, 2020.
PLACED ON SECOND, FINAL READING AND PASSED THIS 24TH DAY OF SEPTEMBER, 2020.
(Village Seal)
ATTEST:
VILLAGE CLERK
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
VILLAGE ATTORNEY
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MAYOR